Business, international

Public threat to Creditanstalt privatisation

Article Abstract:

Political controversy continues to surround the sale of a 70% stake in the Austrian state bank Creditanstalt. Bank Austria's bid of 16 billion Austrian schillings is believed to be considerably higher than the other two bids submitted on 16 Dec 1996, but the People's Party has drawn up a bill which is intended to outlaw Bank Austria's participation in the sale. If the bill receives support from the Freedom Party, the ruling coalition government would under threat.

State commercial banks, State Banks, Planning, Austria, Securities, National banks

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Austria keen to sell Creditanstalt

Article Abstract:

The Austrian government continues to be committed to the privatization of bank Creditanstalt, despite objections from the Austrian banking sector. The government is seeking to sell its 70% stake in the bank, but is adamant that it remains mostly in Austrian hands. A planned deal with a consortium that includes savings bank First Austrian is in doubt because it does not completely fulfill the need for the bank to remain mostly Austrian.

BANCO BILBAO VIZCAYA (BBV)

Article Abstract:

While Spain's Banco Bilbao Vizcaya has actively participated in the Spanish privatization programme in the past, its future endevoirs will be tied with Latin American countries, according to this article. BBV's advisory expertise is to be offered abroad, said Luis Bastida, who holds the post of secretary general in the bank.